The Sensex was trading lower by 78 points at 24,478 points, while the Nifty dropped 18 points in trade. Other IT stocks were also lower along with Infosys with TCS, Wipro and Tech Mahindra among the losers. HCL Tech, however, was trading steady.
Other Nifty losers in trade were State Bank of India, Coal India and Bhel. Hero Motor Corp fell 2 per cent after a leading brokerage downgraded the stock to a sell. Tata Motors was trading marginally lower ahead of its results to be declared later today.
PSU banking stocks where all the action has been in the last few days were trading flat with the exception of Canara Bank and Oriental Bank which were trading with losses.
Select mid cap stocks like HPCL, Voltas, Reliance Communications and Syndicate Bank continued to see buying interest in trade.
Unitech, which reported losses for the quarter ending March 31, 2014 was trading sharply lower by almost 3 per cent in trade.
Most of the other real estate stocks were trading flat to negative in trade. Markets are expected to be volatile today ahead of the F&O expiry.
Meanwhile, Asian markets were having a mixed session in trade. The Hong Kong's Hang Sang and the Shanghai Composite were higher while the Seoul Composite and the Taiwan Weighted were trading marginally lower.